Real Estate
Recent judicial decision makes private lender mortgages (slightly) less complicated
In past years, LAWPRO has written a series of articles on potential claims exposure on private mortgages when title insurance is obtained. A recent judicial decision of the Ontario Court of Appeal resolves some ambiguity as to the implications of transferring funds in such circumstances. The problem originally arose where the lender and borrower were… Read More »
Categories: Real Estate, Title insurance, WebzineKnow thy property: Four easily avoidable errors made before closing real estate transactions
When closing a real estate deal, there is limited time to address numerous legal and practical issues. Just getting a transaction across the finish line can often seem like a feat worthy of celebration. But getting past closing doesn’t bring closure if title errors are discovered after the fact. And even small errors can create… Read More »
Categories: Real Estate, WebzineStaying Out of the Conflict Zone – Recognizing and Reacting to Conflicts of Interest in Real Estate Transactions
During the course of a real estate retainer, it can be easy for a lawyer to lose sight of what constitutes a conflict of interest, as well as what one should do to avoid its pitfalls and consequences. Simply stated, a conflict of interest arises when the lawyer’s duties to a client are compromised by… Read More »
Categories: Conflicts of Interest, Real Estate, TitlePLUS, WebzineCan I see some ID? Verifying identity when the client is abroad
Receiving or transferring funds at the direction of a new or mysterious client carries serious risks. For real estate lawyers, these risks may arise regularly. If a lawyer is not careful, their trust account can become a vehicle for money laundering, fraud, and other nefarious activities by malicious clients and third parties. Sometimes it is… Read More »
Categories: Fraud, Real Estate, TitlePLUSReal Estate File Management Checklist
Real estate continues to be the second largest LAWPRO claims area by count and cost. Breakdown in lawyer/client communication is the most common cause of real estate claims. Even the most routine real estate transaction has many steps and the details may seem obvious but it is easy to let one or two slip through… Read More »
Categories: Areas of Law, Checklist, Content Type, Real EstateTo (mortgage) broker or not: That is the question
Case A: Lawyer M receives a call from a client who is looking for someone who will advance monies on the security of a mortgage. The lawyer gives the client the name, address and phone of a person who, lawyer M believes, does on occasion lend money on the security of a mortgage. Later, the… Read More »
Categories: Areas of Law, LAWPRO policy, Real EstateIn Defence of Our Insureds in 2017
LAWPRO defends actions against lawyers and licensed paralegals practising in every area of the law. In our February issue, we highlighted 2017 civil litigation claims. Family law A plaintiff hired a lawyer to handle certain financial matters, including the drafting of a prenuptial agreement, in preparation for her upcoming marriage. It eventually came to light… Read More »
Categories: 2018 May Year in Review 2017, Areas of Law, Articles, Casebook, Civil Litigation, Content Type, Corporate Law, Family, LAWPRO Magazine, LAWPRO Magazine Article Type, Real Estate, Tax, Year in ReviewEverything old is new again: Will the return of a broader rent control regime haunt the Ontario real estate bar?
For decades the existence of rent control has posed a risk to Ontario real estate lawyers acting on the purchase and mortgaging of residential rental property. The range of affected properties is immense: From a basement apartment to a rented single family house to the largest multi-residential complexes in the province, many real estate files… Read More »
Categories: 2018 May Year in Review 2017, Areas of Law, Articles, Content Type, Failure to Know The Law, Inadequate Investigation, Malpractice Errors, Real EstatePlanning to do real estate work? A primer on title insurance and the TitlePLUS program (2018)
If you’re planning to do any real estate work when you go into practice, you’ll soon hear about a resource used by many real estate practitioners – title insurance. It’s a type of insurance coverage that lawyers across Canada are telling their clients about to help protect them against some typical problems that might crop… Read More »
Categories: 2018 Student Issue 6, Areas of Law, Articles, Content Type, LAWPRO Magazine, LAWPRO Magazine Article Type, Real Estate, Student, Title insurance, TitlePLUS, TopicsRecognizing the red flags of real estate scams involving corporate identity theft
Frauds targeting real estate lawyers are getting ever more sophisticated. LAWPRO has seen several attempted frauds involving corporate identity theft. The properties involved may be commercial or residential, but are always owned by a corporation. How these frauds work These frauds start with the fraudsters changing or stealing the identity of corporate property owners. This… Read More »
Categories: 2018 February Top Legal Disruptions, Areas of Law, Articles, Content Type, Fraud, LAWPRO Magazine, LAWPRO Magazine Article Type, Malpractice Errors, Real Estate, Title insurance, TitlePLUS, Topics